Bitcoin Correction To $75,000 Imminent Before A Surge To $250,000, Arthur Hayes Warns

Former BitMEX CEO Arthur Hayes has outlined a bearish short-term outlook for Bitcoin (CRYPTO: BTC), predicting a significant correction to the $70,000 to $75,000 range before a major rally to $250,000 by the end of the year.

What Happened: In his latest essay, Hayes cites subtle changes in central bank balance sheets, the rate of banking credit expansion, the relationship between US 10-year treasury yields, stocks and Bitcoin prices and the “insane” Trump (CRYPTO: TRUMP) meme coin price action as reasons for his diminished bullishness

He added that this feels very similar to how he felt before the crypto crash of 2021.

Hayes believes that the current level of market bullishness is overextended and that a pullback of this magnitude is “ugly.”

Even though President Donald Trump continues to support crypto sentiment through executive orders and his recent meme coin …

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